Regulatory Alerts2012-07-24 | Resolución 142/2012Added · Updated
Resolution 142/2012
The Board of Directors of the Central Bank of Bolivia authorizes the monetization of 55 million Bs2 coins and 111 million Bs1 coins, totaling 166 million pieces with a face value of Bs221,000,000. Ernesto Yáñez is designated to represent the Board at the monetization ceremony, and the Presidency and General Management are tasked with executing and ensuring compliance with this resolution.
BOARD RESOLUTION NO. 142/2012 SUBJECT: MONETARY OPERATIONS MANAGEMENT – AUTHORIZES MONETIZATION OF Bs2 AND Bs1 COINS.
SEEN: The Law No. 901 of November 28, 1986, which creates the “Boliviano” as the legal and mandatory unit of currency. The Law No. 1670 of October 31, 1995. The Statute of the Central Bank of Bolivia of October 21, 2005. The Regulation on Monetization, Distribution, and Destruction of Monetary Material, approved by Board Resolution No. 117/2009 of October 6, 2009. The Coin Supply Contract SANO No. 185/2011 of May 20, 2011 signed with the company State Mints of Baden Wuerttemberg. The Report from the Monetary Operations Management BCB-GOM-STES-INF-2012-33 of July 12, 2012. The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2012-224 of July 18.
CONSIDERING: That Article 1 of Law No. 901 creates the Boliviano as the unit of the State's monetary system, through banknotes and coins that the Central Bank of Bolivia will issue and circulate as a legal means of payment, starting from January 1, 1987. That according to Article 10 of Law No. 1670, the Central Bank of Bolivia exercises exclusively and non-delegably the function of issuing the monetary unit of Bolivia, in the form of banknotes and metallic coins. That it is an attribution of the Board according to Article 54 subsection m) of Law No. 1670 and numeral 11 of Article 11 of the Statute, to authorize and supervise the issuance of banknotes and coins.
//2. B.R. No. 142/2012 That Article 3 of the Regulation on Monetization, Distribution, and Destruction of Monetary Material, establishes that it is the faculty of the BCB Board, the authorization of monetization of monetary material based on the reports of the Monetary Operations Management (GOM) and the Legal Affairs Management based on the issuance or storage requirements determined by the GOM. That in accordance with the Coin Supply Contract SANO No. 185/2011 signed with the company State Mints of Baden Wuerttemberg, the Central Bank of Bolivia received 55 million pieces of the Bs2 denomination up to February 26, 2012 and 111 million pieces of the Bs1 denomination up to January 10, 2012. That Report BCB-GOM-STES-INF-2012-33 establishes the need to introduce from the month of July of the current management, Bs2 and Bs1 coins. That in the opinion of the Legal Affairs Management according to Report BCB-GAL-SANO-INF-2012-224 there is no legal impediment for the BCB Board, in attention to its faculties and competencies, to approve the monetization of Bs2 and Bs1 coins.
THEREFORE THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES: Article 1.- Authorize the monetization of Bs2.- and Bs1.- denomination coins according to the following detail:
DENOMINATION NUMBER OF PIECES VALUE IN Bs. 2.- 55,000,000 110,000,000.- 1.- 111,000,000 111,000,000.- TOTAL 166,000,000 221,000,000.-
Article 2.- Designate Director Ernesto Yáñez to represent the Board participate in the act of monetization of the cited material.
//3. B.R. No. 142/2012 Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, July 24, 2012
Marcelo Zabalaga Estrada
Rafael Boyán Téllez Hugo Dorado Araníbar
Gustavo Blacutt Alcalá Ernesto Yáñez Aguilar
More like this from BCB
BCB published 7 documents in the last 30 days. We email you each new one the day it's published.